MACRO ECONOMIC NEWS

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Macro Economic News 06 Mar 2019

                                                                                                                                                       

U.S. President Donald Trump looked set to open a new front in his trade wars with a plan to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States while India says preferential trade arrangement with U.S. more symbolic than high value. Exporters’ body opines India's farm and marine exports to be hit by U.S. trade action. Similar action is being planned for Turkey. The U.S. services sector expanded at a faster rate in February. U.S. Budget Gap Widened 77% in First Four Months of Fiscal Year. Dallas Fed said the rising level of borrowing by nonfinancial companies could cause trouble in the U.S. economy.

 

FINANCIAL TIMES

[I]  Boom in London rupee trade poses challenge for India

[I]  Brussels says EU has ‘underestimated’ China’s reach

[I]  China sets lower GDP target as trade war hits home

[I]  South Africa’s economic growth stutters

[I]  India plays down Trump move to drop preferential trade status

[I]  Japan to bear brunt of US titanium probe

[I]  The ECB must reconsider its plan to tighten

 

REUTERS

[I]  Donald Trump scraps U.S. trade privilege for India

[I]  BOJ's Harada says ready to ease if risks threaten price goal

[I]  U.S. looking at new sanctions against Venezuela - U.S. official

[I]  Brexit to be put on ice, but only for a few months: economists

[I]  India's February jobless rate climbed to 7.2 percent: CMIE

[I]  India services activity accelerates in February as demand strengthens: PMI

[I]  India housing market to cool despite government support: Reuters poll

[I]  India, Pakistan resume barter trade amid tension in contested Kashmir

[I]  India's February jobless rate climbed to 7.2 percent: CMIE

[I]  U.S. Federal Reserve mulls tighter rules on foreign bank branches - sources

[I]  New Delhi is world's most polluted capital, Beijing eighth

 

BLOOMBERG 

[I]  Tariff-Man Trump to Preside Over $100 Billion Jump in Trade Gap

[I]  Asia's Dollar Bond Market Hasn't Been This Hot for Years

[I]  Top Funds Keep the Faith Even as Philippine Stock Rally Fizzles

[I]  Japan Stresses Weak Yen-Exports Link Ahead of U.S. Trade Talks

[I]  Trump's Tax Coffer Shrinks Despite GOP Pledges of a Revenue Boost

[I]  How Europe's Banks Wound Up Laundering Russia's Money

[I]  Australia's Economy Slows as Property Slump Hurts Construction

[I]  China's New GDP Goal, RBA on Housing, $100 Billion Man: Eco Day

[I]  “Wall of Money” Is Heading for Emerging Markets, IIF Says

 

WALL STREET JOURNAL

[I]  U.S. Services Sector Expanded in February

[I]  U.S. Budget Gap Widened 77% in First Four Months of Fiscal Year

[I]  U.S. Consumers Hit Hardest by Trade Tariffs, Studies Find

[I]  U.S. New Home Sales Rose in December

[I]  U.S. to Trim Trade Privileges for India, Turkey

[I]  Beijing Drops ‘Made in China 2025’ Slogan, but Policy Remains

[I]  Fed’s Rosengren Says Pause in Rate Increases Is Justified

[I]  Fed Official Watching Corporate Debt Levels for Potential Trouble

 

BUSINESS LINE

[I]  India shrugs off US move to end preferential trade treatment

[I]  Modi launches pension plan for unorganised sector workers

[I]  How piling dues choke power generation companies

[I]  Speed breeding to hasten development of new crop varieties

[I]  Wheat price hovers around MSP with arrivals set to rise

[I]  To prevent frauds, banks plan to appoint agencies to monitor large-value accounts

[I]  India, a key hub for illicit drug trade; use of darknet, cryptos rampant: UN body

 

ECONOMIC TIMES

[I]  India's job report card doesn't look pretty

[I]  RBI to infuse Rs 12,500 crore via OMO on Thursday

[I]  Govt fixes sugar sale quota at 24.5 lakh tonne for March

[I]  Government promised to lower corporate tax as GST mop-up rises: Ficci

[I]  India may impose retaliatory tariffs on US goods from April 1

[I]  Service sector growth picks up pace in Feb, PMI at 52.5

 

BUSINESS STANDARD

[I]  NBFCs face new governance, exposure code: From licensing to CEO package

[I]  Do not depend only on ratings; use your own judgment too: Irdai to insurers

[I]  India Inc employees can expect a salary hike of 9.7% this year: Report

[I]  Japanese retail investors are renewing interest in rupee denominated bonds

[I]  Govt to focus on lowering tax rate and widening base, says Arun Jaitley

[I]  US move to end India's preferential trade treatment will backfire: Experts

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11058;  USDINR DGCX: 70.7175;  DJIA Mini: 25781;  FTSE 100 Fut: 7159;  NIKKEI 225 Fut: 21603;  EUR-USD: 1.1294; Crude Oil (WTI): 56.07;  Gold (Spot): 1287

 

Best Regards, ARBIND

06 Mar 2019